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PACKAGE DEAL FOE ALL XCEL SOLUTIONS EXAM QUESTIONS AND ANSWERS 100% VERIFIED GRADED A 2024
PACKAGE DEAL FOE ALL XCEL SOLUTIONS EXAM QUESTIONS AND ANSWERS 100% VERIFIED GRADED A 2024
[Montrer plus]PACKAGE DEAL FOE ALL XCEL SOLUTIONS EXAM QUESTIONS AND ANSWERS 100% VERIFIED GRADED A 2024
[Montrer plus]Typically, Long-Term Disability benefits are coordinated with which benefit plan? - Social Security 
 
The focus of major medical insurance is providing coverage for - medical and hospitalization expenses 
 
An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance p...
Aperçu 3 sur 22 pages
Ajouter au panierTypically, Long-Term Disability benefits are coordinated with which benefit plan? - Social Security 
 
The focus of major medical insurance is providing coverage for - medical and hospitalization expenses 
 
An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance p...
K has a life insurance policy where her husband is beneficiary and her daughter is contingent beneficiary. Under the Common Disaster clause, if K and her husband are both killed in an automobile accident, where would the death proceeds be directed? - Daughter 
 
When is a Group Health policy require...
Aperçu 2 sur 12 pages
Ajouter au panierK has a life insurance policy where her husband is beneficiary and her daughter is contingent beneficiary. Under the Common Disaster clause, if K and her husband are both killed in an automobile accident, where would the death proceeds be directed? - Daughter 
 
When is a Group Health policy require...
Irrevocable beneficiary - What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? 
 
Anytime - When can a policy-owner change a revocable beneficiary? 
 
Daughter - K has a life insurance policy where her husband is beneficiary and her daughter is conti...
Aperçu 2 sur 8 pages
Ajouter au panierIrrevocable beneficiary - What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? 
 
Anytime - When can a policy-owner change a revocable beneficiary? 
 
Daughter - K has a life insurance policy where her husband is beneficiary and her daughter is conti...
The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - insurance sales calls 
Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry 
 
The type of policy where the insurer can send a notice to the insured that...
Aperçu 3 sur 17 pages
Ajouter au panierThe Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - insurance sales calls 
Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry 
 
The type of policy where the insurer can send a notice to the insured that...
Insuring Which health policy clause specifies the amount of benefits to be paid - Insuring 
 
The investment gains from a universal life policy usually go to - The cash value 
 
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that the appl...
Aperçu 2 sur 15 pages
Ajouter au panierInsuring Which health policy clause specifies the amount of benefits to be paid - Insuring 
 
The investment gains from a universal life policy usually go to - The cash value 
 
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that the appl...
P is a producer who is licensed in Indiana , but a resident of Michigan . In Indiana , P is considered to be a ( n ) __________ producer . - nonresident . 
 
Why would the Insurance Commissioner issue a temporary license ? - To allow the personal representative of a deceased producer to provide serv...
Aperçu 2 sur 8 pages
Ajouter au panierP is a producer who is licensed in Indiana , but a resident of Michigan . In Indiana , P is considered to be a ( n ) __________ producer . - nonresident . 
 
Why would the Insurance Commissioner issue a temporary license ? - To allow the personal representative of a deceased producer to provide serv...
When can a policy owner change a revocable beneficiary? - Anytime 
 
M purchased an Accidental Death and Dismemberment (AD&D) policy and named his son as beneficiary. M has the right to change the beneficiary designation at anytime. What type of beneficiary is his son? - Revocable 
 
How would a con...
Aperçu 2 sur 12 pages
Ajouter au panierWhen can a policy owner change a revocable beneficiary? - Anytime 
 
M purchased an Accidental Death and Dismemberment (AD&D) policy and named his son as beneficiary. M has the right to change the beneficiary designation at anytime. What type of beneficiary is his son? - Revocable 
 
How would a con...
In the Michigan Insurance Code, Chapter 45, insurance fraud defines financial loss as all of the following EXCEPT - additional premiums 
 
Which of the following statements are NOT true regarding the limited fungi, wet or dry rot , or bacteria coverage - HO 04 26 endorsement is used with HO 03 forms...
Aperçu 2 sur 6 pages
Ajouter au panierIn the Michigan Insurance Code, Chapter 45, insurance fraud defines financial loss as all of the following EXCEPT - additional premiums 
 
Which of the following statements are NOT true regarding the limited fungi, wet or dry rot , or bacteria coverage - HO 04 26 endorsement is used with HO 03 forms...
in Louisiana, legal action can be taken for up to ___ year(s) against an insurer for failure to pay health insurance claims after proof of loss was submitted. - 1 
 
When does an immediate annuity begin making payments? - After the first premium has been paid 
 
Which of the following statements is ...
Aperçu 2 sur 6 pages
Ajouter au panierin Louisiana, legal action can be taken for up to ___ year(s) against an insurer for failure to pay health insurance claims after proof of loss was submitted. - 1 
 
When does an immediate annuity begin making payments? - After the first premium has been paid 
 
Which of the following statements is ...
Shawn, Mike, and Dave are brothers who have a $100,000 "first to die" joint life policy covering all three of their lives. If Mike dies first, the policy proceeds 
 A.) Will no longer provide insurance protection 
 B.) Will go to Mike's estate 
 C.) Wwill be divided by probate 
 D.) Will not be p...
Aperçu 3 sur 16 pages
Ajouter au panierShawn, Mike, and Dave are brothers who have a $100,000 "first to die" joint life policy covering all three of their lives. If Mike dies first, the policy proceeds 
 A.) Will no longer provide insurance protection 
 B.) Will go to Mike's estate 
 C.) Wwill be divided by probate 
 D.) Will not be p...
What is normally the consequence for NOT obtaining preadmission certification prior to receiving inpatient medical care? - A reduction in benefits 
 
A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a - Risk retention group 
 
During ...
Aperçu 1 sur 4 pages
Ajouter au panierWhat is normally the consequence for NOT obtaining preadmission certification prior to receiving inpatient medical care? - A reduction in benefits 
 
A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a - Risk retention group 
 
During ...
A savings vehicle designed to first accumulate funds and then systematically liquidates the funds is called a(n) - Deferred Annuity 
 
Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insur...
Aperçu 2 sur 9 pages
Ajouter au panierA savings vehicle designed to first accumulate funds and then systematically liquidates the funds is called a(n) - Deferred Annuity 
 
Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insur...
Question 1 
Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? - Life income 
 
Question 2 
A new agent must complete at least _____ hours of continuing education within 24 months of initial license? - 24 hours 
 
Question 3 
L takes out a life insu...
Aperçu 2 sur 10 pages
Ajouter au panierQuestion 1 
Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? - Life income 
 
Question 2 
A new agent must complete at least _____ hours of continuing education within 24 months of initial license? - 24 hours 
 
Question 3 
L takes out a life insu...
The free-look period for a new Medicare Supplement policy is - 30 days 
 
Al surrenders his life insurance policy for its cash value. The total of the premiums paid into the policy minus total dividends received in cash or used to offset premiums is referred to as the - cost basis 
 
All of these ar...
Aperçu 2 sur 11 pages
Ajouter au panierThe free-look period for a new Medicare Supplement policy is - 30 days 
 
Al surrenders his life insurance policy for its cash value. The total of the premiums paid into the policy minus total dividends received in cash or used to offset premiums is referred to as the - cost basis 
 
All of these ar...
Which of the following statements is CORRECT regarding the tax treatment of a lump-sum payment paid to a life insurance policy's primary beneficiary? - All proceeds are income tax free in the year they are received. 
 
A(n) _____ insurance company is one formed in a country other than the United St...
Aperçu 2 sur 5 pages
Ajouter au panierWhich of the following statements is CORRECT regarding the tax treatment of a lump-sum payment paid to a life insurance policy's primary beneficiary? - All proceeds are income tax free in the year they are received. 
 
A(n) _____ insurance company is one formed in a country other than the United St...
S recently received a $500,000 lump sum retirement buyout from her employer. She would like to buy an annuity that will immediately furnish her with a guaranteed income for life. What type of annuity is best suited for her situation? - Single Premium. 
 
Immediate Annuities are purchased with a sing...
Aperçu 3 sur 30 pages
Ajouter au panierS recently received a $500,000 lump sum retirement buyout from her employer. She would like to buy an annuity that will immediately furnish her with a guaranteed income for life. What type of annuity is best suited for her situation? - Single Premium. 
 
Immediate Annuities are purchased with a sing...
Under group health insurance, a certificate of coverage is issued to the - employee 
 
Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit? - Increase the premiums on an individual basis 
 
A payment system for health...
Aperçu 2 sur 11 pages
Ajouter au panierUnder group health insurance, a certificate of coverage is issued to the - employee 
 
Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit? - Increase the premiums on an individual basis 
 
A payment system for health...
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